Sellers own this range.
Price is trading below the May distribution. Every rally since has been sold into a lower high.
The zone at 70,000–72,500 is unmitigated. That is where I want to be short.
The trade
Short into 70,000–72,500.
Invalidation above 79,474.
ERL target at 57,800.
The logic
The low at 57,800 is untouched liquidity. It is the obvious draw.
A retrace into the supply zone is the entry, not a reason to turn bullish.
If price accepts above 79,474, this idea is wrong and I stand down.
Price is trading below the May distribution. Every rally since has been sold into a lower high.
The zone at 70,000–72,500 is unmitigated. That is where I want to be short.
The trade
Short into 70,000–72,500.
Invalidation above 79,474.
ERL target at 57,800.
The logic
The low at 57,800 is untouched liquidity. It is the obvious draw.
A retrace into the supply zone is the entry, not a reason to turn bullish.
If price accepts above 79,474, this idea is wrong and I stand down.
Note
BTC has reached POI
— smikal
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
— smikal
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.